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The biggest exchanges in Europe grabbed solid gains on Monday, helped by a rebound in technology stocks. Industrial and Mining large companies also led the gainers, while precious metals and oil returned most of their earlier losses. The increase in risk appetite boosted the markets after the summit of the Group of Twenty in Hamburg. On the foreign exchange market, exchange rates were quite calm, with the dollar moving modestly higher, adding downward pressure on precious metals before the start of the U.S trading session.
The FTSE 100 ended the session 0.26% in the green. BAE Systems rose 2.2%, followed by Anglo American's gain of 2.1%, while BHP Billiton added 1.9%. The DAX settled 0.46% higher in Frankfurt with E.ON as the best performer, surging 2.22%. Linde rose 2.02%. The CAC 40 index closed 0.4% in positive territory, with ArcelorMittal the best stock of the day, jumping 2.34%. The Italian FTSE MIB rallied 0.84%, where Italgas topped the chart with a gain of 3.36%. Ferrari closely trailed the utility, increasing 3.32%.
On Wall Street, the session started in a narrow trading band around the flat line as investors were weighing implications of political messages at the Group of Twenty summit in Hamburg. The dollar strengthened modestly, looking to reach a record value against the yen. Late during the day, the U.S markets climbed tepidly buoyed by the technology and Energy sectors. Markets also awaited for Federal Reserve Chairwoman Janet Yellen, who will deliver her semiannual monetary policy report this week.
Aviation
Deutsche Lufthansa shares saw a downgrade from buy to neutral at the Union Bank of Switzerland (UBS). This means that for UBS the shares roughly reached their price target following recent consensus earnings upgrades and occurrence of events. The news led the share price to fall almost half a percent. Other brokerages also gave their verdict in line with their price targets, which range from a sell to a neutral rating.
Technology
Apple Inc. announced it has the intention to invest around €810 million in a new data center in Denmark, the second in the Scandinavian country to be powered exclusively by renewable energy.
The new data center will be built in the southern Danish town of Aabenraa, near the German border, and is expected to begin operations in the second quarter of 2019. The center will power Apple's online services, including the iTunes Store, App Store, iMessage, Maps and Siri for customers across Europe. Apple already started building a data center in Denmark near the town of Viborg, which is set to start working later this year.
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